14687 Rayen Street

14687 Rayen Street

Panorama City, CA 91402

$5,300,000
Price
42
Beds
40
Baths
20,829 Sq. Ft.
$254 / Sq. Ft.
20,829
Sq. Ft.
$254
per Sq. Ft.

Description

Huge price reduction Vacant 2+2 unit leased at $2,550 In-place 6.31% cap rate, 10.18 grm 18 (2+2) 2 (3+2) units in Panorama City. Property is located in Panorama City, the next multifamily hotspot. There are big changes going on near Panorama City and North Hills. Primestor and the city are planning a major development called the "Panorama City Center". This massive development will offer over 5 million square feet of multi-family, retail, restaurants, entertainment, fitness, office, and medical....Huge price reduction Vacant 2+2 unit leased at $2,550 In-place 6.31% cap rate, 10.18 grm 18 (2+2) 2 (3+2) units in Panorama City. Property is located in Panorama City, the next multifamily hotspot. There are big changes going on near Panorama City and North Hills. Primestor and the city are planning a major development called the "Panorama City Center". This massive development will offer over 5 million square feet of multi-family, retail, restaurants, entertainment, fitness, office, and medical. Basically, a walking city. This adds to other current and future huge developments being planned in the area. Izek Shomof has already converted the Panorama Tower, previously an office building, into 194 luxury residential apartments and due it's success, is now planning on building another 200 apartments w/ retail right next door. We believe these major investments are due to the upcoming Light Rail Transit Line on Van Nuys Blvd. Transit Lines have been proven to change neighborhoods, sometimes increasing rents 25-67%. Large developers know this and build accordingly. These transformative large developments further change the neighborhoods. Nearby property owners receive the benefits. Call us, we can help you profit from this. The Next Multifamily Hotspot echoing the Success of North Hollywood and Korea Town | Less than 1/2 mile from the coming Van Nuys Light Rail, New public transit stops drive up nearby rental prices 25% - 60% | 1/2 a mile to the Future Panorama City Center, a 5,000,000 Sq Ft Transportation Oriented Development sure to Transform the Neighborhood | New Developments Change Neighborhoods, Additional Significant Developments are Planned in the Area by Major Developers | 80% 2 Bedroom 2 Bath, 20% 3 Bedroom 2 Bath | All units have nice kitchens, kitchen cabinets, flooring and bathrooms | Potential to add an ADU without losing parking (Buyer to confirm) | Contact us for an OM.
  1. Listed by Kelly Morgan • DRE #01898026 • Brokerage DRE #01854200 • KW Advisors

Property Details for 14687 Rayen Street

Zoning
LAR3
Parcel Number
2651011030
Total Units
20.0
Living Area
20829
Source Living Area
Assessor
Area
Panorama City (PC)
Vacancy Rate
0
Lot Size Area
23133

Location

Listing Courtesy of KW Advisors, Kelly Morgan, DRE #01898026
Add your commute
LISTING UPDATED: 05/20/2024 11:08 AM

Property Details for 14687 Rayen Street

StatusActive
MLS #23-331875
Days on Market125
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.53 AC / 23,133 SF
CountyLos Angeles County

Location

Listing Courtesy of KW Advisors, Kelly Morgan, DRE #01898026
Add your commute

Building Information for 14687 Rayen Street

Stories2Residences-Year Built1964Building Size-Lot Size0.53 AC / 23,133 SF

Payment Calculator

$33,362 per month

30 year fixed, 7.25% Interest

Principal and Interest

$28,924

Property Taxes

$4,438

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 14687 Rayen Street

Community / Development
Community / Development
  • Number Of Units: 20
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $476,318
  • Net Operating Income: $308,538.00
  • Gross Income: $491,050
  • Cap Rate: 6.31%
  • Gross Rent Multiplier: $10.18
  • Financial Info as Of: 03/06/2024
  • Total Annual Expense: 160821
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.5311
  • Lot Size Square Feet: 23133
Parking Details
Parking Details
  • Parking Garage: Carport Attached
  • Total Parking: 20
  • Parking Features: Attached Carport
  • Attached Garage: Yes
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 11-14-2023
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,863.00
  • Unit Actual Rent: $33,531.00
  • Unit Projected Rent: $44,100.00
  • Like Units: 18
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,782.00
  • Unit Actual Rent: $5,564.00
  • Unit Projected Rent: $5,790.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $2,037,182.00
  • Assessed Improvement Percent: 48.72
  • Assessed Land Value: $2,144,403.00
  • Assessed Land Percent: 51.28
  • Assessed Total Value: $4,181,585.00

Property History for 14687 Rayen Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 14687 Rayen Street

Taxable ValueLand$2,144,403Additions$2,045,182Total$4,189,585
Tax Record2023$53,250 ($4,438 / month)
Home Facts
Total Finished SqFt20,829 SqFtAbove Grade Finished SqFt20,829 SqFtLot Size23,203 SqFtStyleMulti-Family Res (5+ Units)Year Built1964ZoningLAR3CountyLOS ANGELESAPN2651-011-030

Schools near 14687 Rayen Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Primary Academy For Success
Public - K to 2
Valor Academy Middle School
Charter - 5 to 8
James Monroe High School
Public - 9 to 12
Alta California Elementary School
Public - K to 5
Rating
School
Distance
Primary Academy For Success
PublicK to 2

Valor Academy Middle School
Charter5 to 8

James Monroe High School
Public9 to 12

Alta California Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 14687 Rayen Street, Panorama City, CA 91402

14687 Rayen Street is a multi-family home for sale in Panorama City, CA 91402. This property was listed for sale on November 14, 2023 by KW Advisors, it's currently listed at $5,300,000. It has been on the market for a total of 125 days and was last sold on April 22, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include Primary Academy For Success, Valor Academy Middle School and James Monroe High School. 14687 Rayen Street is a 42-bed, 40-bath, 20,829 sqft multi-family home built in 1964.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Advisors, Kelly Morgan, DRE #01898026

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.